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February 24, 2006
Cellphone recycling startups find growth
Over at the Red Herring is a feature story about ReCellular describing the US company's mobilephone recycling business. It reminded us of Fonebak in the UK, which raised £27M in 2004 from Bank of Scotland and subsequently floated on the AIM, the junior market in London in 2005.
Fonebak works with charities, retailers, and businesses to collect and recycle mobilephones in Eruope
Within two years of its launch in 2002, Fonebak had sales of £27 million and it had some 200 people working at plants in UK and Romania, as well as sales office in Belgium, France, and Spain. Last year its sales reached £38M with £2.5m pre-tax profit.
Read - Old phones ring up new profits (Red Herring)
Posted on February 24, 2006 03:32 PM | Posted to Wireless | Permalink
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